After the last event of the festive season is over, the last few weeks of the year and the first weeks of the new year are notoriously quiet periods. It's an ideal time for event and meeting planners to take stock of performance over the last 12 months and map out their strategy for the coming year.
Event planning firms can go through this process as a team and independent meeting planners will benefit from creating a mastermind group with colleagues. Use a variety of brainstorming tools for event planners to ensure that viable strategies are not overlooked.
- Assess this year's business performance using Cvent Blog's tips from Charting Your Business Course for the New Year.
- Create a chart to give you a clear picture of the effectiveness of your marketing efforts during the past 5 years.
- In the first column, list every marketing strategy or tactic you have used during the past 5 years.
- In column 2, list how much money you invested for each marketing activity.
- Record every piece of new or repeat business generated through each activity in column 3.
- List the amount of revenue generated through each piece of new or repeat business.
- Compare the revenue generated with the money invested to identify the marketing activities that are worth continuing.
- To determine how to breath new life into existing services and programs, study hot 2016 event industry trends.
- Design a new marketing campaign to be launched during the first few weeks of the new year.
Use a balance of on-line and off-line marketing tactics. If appropriate, consider guerilla marketing.
- Update and automate your client list.
- Complete a demographic profile for each existing client and be sure to design multi-generational events, meetings and conferences.
As millennials and generation Z make up more of the participant mix, it will be important to incorporate new approaches to engage them into the design of events.
- Plan to contact all existing clients and all clients with which you have done business since 2006.
Be sure to also reach out to prospective clients who made a request but did not end up doing business with your firm. (Remember, some of the companies that put events on the back burner during the 2008 meltdown are just bringing them back on-stream now).
- Update or re-vamp your website.
One of the key elements of web design is to ensure that your website is mobile-friendly.
- Get organized for the new year with Cvent Blog's 10 Tips for Re-shaping Your Workspace.
- Re-charge your batteries.
Spending quality time with family and friends over the holidays will ensure that you return to work energized and ready to implement the new strategies to take your business to the next level.
Cvent's suite of event marketing and event management tools will help event and meeting planners implement their plans for the new year.
For more tips to prepare for the coming year, also check out Top 10 Things to Do When Business Slows Down and Business Meetings 411: Decision-Making Tools for Event Planners
Event Planning teams and event planning firms will benefit from Checklist for Effective Year-End Team Meetings and Kick-offs.
Photo Credit: Locus Research